1. What are economic activities?
Answers
Answer:
Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. ... Activities that involve money or the exchange of products or services are economic activities.
Economic activities are performed for the purpose of making money, gaining wealth, and creating and producing items that can be offered to the public for sale. Restaurants, large retailers and even small businesses engage in economic activities every day. The outcome of economic activities is measured monetarily.
By contrast, non-economic activities are those performed without money in mind. Maybe you volunteered at a local animal shelter or worked to prepare care packages for the military. Non-economic activities are conducted voluntarily, typically out of a sense of affection, sympathy or similar emotion. It could be related to a social cause, a religious preference, a recreational choice or a charitable goal. In non-economic activities, money is not a determining factor and cannot be used to measure the outcome; rather, that is measured in satisfaction, fulfillment and happiness.